JACK: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
JACK
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+31.3%), from €3.3m to €4.3m
- Stocks and contracts +€66,387
up €66,387 (+8.5%), from €777,399 to €843,786
- Debts after one year +€850,437
up €850,437 (+42.0%), from €2.0m to €2.9m
- Reserves +€172,158
up €172,158 (+10.6%), from €1.6m to €1.8m
of which Distributable reserves: +€192,201
- Current portion of long-term debt +€61,675
up €61,675 (+30.1%), from €204,941 to €266,616
- Tax, wage and social debts +€57,246
up €57,246 (+116.8%), from €49,001 to €106,248
- Gross operating margin +€257,510
up €257,510 (+65.5%), from €392,879 to €650,389
- Depreciation +€91,920
up €91,920 (+48.8%), from €188,468 to €280,388
- Taxes +€52,635
up €52,635 (+120.9%), from €43,523 to €96,158
- Financial charges +€9,410
up €9,410 (+14.5%), from €64,880 to €74,290
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,124,056 | €5,264,687 | +€1.1m | +27.7% |
| Fixed assets | 21/28 | €3,310,992 | €4,346,604 | +€1.0m | +31.3% |
| Tangible fixed assets | 22/27 | €3,310,742 | €4,346,354 | +€1.0m | +31.3% |
| Land and buildings | 22 | €3,310,742 | €4,346,354 | +€1.0m | +31.3% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €813,065 | €918,083 | +€105,018 | +12.9% |
| Stocks and contracts in progress | 3 | €777,399 | €843,786 | +€66,387 | +8.5% |
| Stocks | 30/36 | €777,399 | €843,786 | +€66,387 | +8.5% |
| Amounts receivable within one year | 40/41 | €18,305 | €19,846 | +€1,541 | +8.4% |
| Trade receivables | 40 | - | €1,541 | +€1,541 | |
| Other amounts receivable | 41 | €18,305 | €18,305 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,236 | €54,362 | +€49,127 | +938.3% |
| Deferred charges and accrued income | 490/1 | €12,125 | €89 | -€12,036 | -99.3% |
| Total equity and liabilities | 10/49 | €4,124,056 | €5,264,687 | +€1.1m | +27.7% |
| Equity | 10/15 | €1,651,267 | €1,823,425 | +€172,158 | +10.4% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €1,629,359 | €1,801,517 | +€172,158 | +10.6% |
| Tax-exempt reserves | 132 | €559,897 | €539,853 | -€20,043 | -3.6% |
| Distributable reserves | 133 | €1,069,463 | €1,261,664 | +€192,201 | +18.0% |
| Profit (loss) carried forward | 14 | €908 | €908 | = | 0.0% |
| Provisions and deferred taxes | 16 | €186,632 | €179,951 | -€6,681 | -3.6% |
| Deferred taxes | 168 | €186,632 | €179,951 | -€6,681 | -3.6% |
| Amounts payable | 17/49 | €2,286,157 | €3,261,311 | +€975,153 | +42.7% |
| Amounts payable after more than one year | 17 | €2,026,774 | €2,877,211 | +€850,437 | +42.0% |
| Financial debts | 170/4 | €2,026,774 | €2,877,211 | +€850,437 | +42.0% |
| Amounts payable within one year | 42/48 | €259,384 | €384,100 | +€124,716 | +48.1% |
| Current portion of amounts payable after more than one year | 42 | €204,941 | €266,616 | +€61,675 | +30.1% |
| Trade debts | 44 | €5,441 | €11,236 | +€5,795 | +106.5% |
| Suppliers | 440/4 | €5,441 | €11,236 | +€5,795 | +106.5% |
| Taxes, remuneration and social security | 45 | €49,001 | €106,248 | +€57,246 | +116.8% |
| Taxes | 450/3 | €49,001 | €106,248 | +€57,246 | +116.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188,468 | €280,388 | +€91,920 | +48.8% |
| Other operating charges | 640/8 | €29,446 | €34,076 | +€4,630 | +15.7% |
| Gross operating margin | 9900 | €392,879 | €650,389 | +€257,510 | +65.5% |
| Operating profit (loss) | 9901 | €174,965 | €335,924 | +€160,960 | +92.0% |
| Financial charges | 65/66B | €64,880 | €74,290 | +€9,410 | +14.5% |
| Recurring financial charges | 65 | €64,880 | €74,290 | +€9,410 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | €110,085 | €261,635 | +€151,550 | +137.7% |
| Transfer from deferred taxes | 780 | €6,681 | €6,681 | = | 0.0% |
| Income taxes | 67/77 | €43,523 | €96,158 | +€52,635 | +120.9% |
| Profit (loss) for the period | 9904 | €73,243 | €172,158 | +€98,915 | +135.1% |
| Transfer from tax-exempt reserves | 789 | €20,043 | €20,043 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €93,286 | €192,201 | +€98,915 | +106.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.